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Related party transactions | 12 Months Ended
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Dec. 31, 2022
Related Party Transactions [Abstract] |
Related party transactions |
| 6. | Related party transactions
Related parties are natural persons or companies that can be influenced by the reporting entity, that can exert an influence on the reporting entity or that are under the influence of another related party of the reporting entity. Transactions between related parties mainly include loans, leases, and management services. All business transactions, receivables and liabilities with related parties existing at the reporting date result from ordinary business activities and are conducted at arm’s length. Note 1 provides information about ADSE’s structure, including details of the shareholders, subsidiaries, and entities with significant influence on ADSE. The following table provides the total amount of transactions that have been entered into with related parties for the relevant financial year.
kEUR |  | 2022 |
|  | Sales of goods and services |  |  | Purchase of goods and services |  |  | Other income |  |  | Other expense |  |  | Interest expense |
Transactions with shareholders* |  |  | 76 |  |  |  | -151 |  |  |  | 15 |  |  |  | -80 |  |  |  | -2 |
Transactions with affiliated companies* |  |  | 262 |  |  |  | -4,603 |  |  |  | 35 |  |  |  | -6,027 |  |  |  | -59 |
Transactions with associated companies |  |  | 153 |  |  |  | -85 |  |  |  | - |  |  |  | -98 |  |  |  | - |
Total |  |  | 491 |  |  |  | -4,839 |  |  |  | 50 |  |  |  | -6,205 |  |  |  | -61 |
| *) | Transactions with shareholders comprise agreements with ADSH, Robert Bosch GmbH and Bosch Thermotechnik GmbH. Transactions with affiliates include transaction with subsidiaries of the shareholders.
In the financial year 2021 ADSE acquired several items of property, plant, and equipment from ads-tec Dresden GmbH for a purchase price of kEUR 774. As of December 31, 2021, these items are presented within property, plant, and equipment in the statement of financial position.
kEUR |  | 2021 |
|  | Sales of goods and services |  |  | Purchase of goods and services |  |  | Other income |  |  | Other expense |  |  | Interest expense |
Transactions with shareholders* |  |  | 1,601 |  |  |  | -26 |  |  |  | - |  |  |  | -457 |  |  |  | -1,995 |
Transactions with affiliated companies* |  |  | 2,253 |  |  |  | -2,073 |  |  |  | 21 |  |  |  | -5,402 |  |  |  | - |
Transactions with associated companies |  |  | - |  |  |  | -81 |  |  |  | - |  |  |  | -47 |  |  |  | - |
Total |  |  | 3,854 |  |  |  | -2,181 |  |  |  | 21 |  |  |  | -5,906 |  |  |  | -1,995 |
| *) | Transactions with shareholders comprise agreements with ADSH, Robert Bosch GmbH and Bosch Thermotechnik GmbH. Transactions with affiliates include transaction with subsidiaries of the share-holders.
kEUR |  | 2020 |
|  | Sales of goods and services |  |  | Purchase of goods and services |  |  | Other income |  |  | Other expense |  |  | Interest expense |
Transactions with shareholders* |  |  | - |  |  |  | -371 |  |  |  | - |  |  |  | -2,451 |  |  |  | -1,368 |
Transactions with affiliated companies* |  |  | 22 |  |  |  | -4,197 |  |  |  | - |  |  |  | -3,195 |  |  |  | -48 |
Transactions with associated companies |  |  | - |  |  |  | -75 |  |  |  | - |  |  |  | -54 |  |  |  | - |
Transactions with related persons |  |  | - |  |  |  | - |  |  |  | - |  |  |  | -2 |  |  |  | - |
Total |  |  | 22 |  |  |  | -4,643 |  |  |  | - |  |  |  | -5,702 |  |  |  | -1,416 |
| *) | Transactions with shareholders comprise agreements with ADSH, Robert Bosch GmbH and Bosch Thermotechnik GmbH as well as any subsidiaries of Robert Bosch GmbH. Transactions with affiliates include transaction with subsidiaries of ADSH.
Other expenses Other expenses mainly include the administration fees of kEUR 3,412 (2021: 2,963, 2020: kEUR 2,143) paid to ads-tec Administration GmbH, management fees of kEUR 0 (2021: kEUR 450, 2020: kEUR 450) paid to ADSH and development costs of kEUR 1,095 (2021: kEUR 1,479, 2020: kEUR 262) paid to ads-tec Engineering GmbH. Interest expenses Interest expenses mainly include the interest expense of kEUR 0 (2021: kEUR 338, 2020: kEUR 261) on the loan from ADSH, the interest expense of kEUR 0 (2021: kEUR 1,625, 2020: kEUR 1,070) on the loan from the other shareholder. The table below provides an overview of significant account balances and transactions from such relationships. Receivables and liabilities to shareholders and affiliated companies Liabilities to affiliated companies mainly comprise a liability to ads-tec Industrial IT GmbH in the amount of kEUR 1,167 (2021: kEUR 12), a liability to ads-tec Administration GmbH in the amount of kEUR 476 (2021: kEUR 838) and a liability to ads-tec Dresden GmbH in the amount of kEUR 28 (2021: kEUR 1,199).
kEUR |  | Dec. 31, 2022 |  |  | Dec. 31, 2021 |
|  | Receivables |  |  | Payables |  |  | Receivables |  |  | Payables |
Transactions with shareholders* |  |  | 96 |  |  |  | 216 |  |  |  | 2,108 |  |  |  | 311 |
Transactions with affiliated companies* |  |  | 212 |  |  |  | 2,144 |  |  |  | 25 |  |  |  | 2,685 |
Transactions with associated companies |  |  | - |  |  |  | 12 |  |  |  | - |  |  |  | 8 |
Total |  |  | 308 |  |  |  | 2,372 |  |  |  | 2,133 |  |  |  | 3,005 |
| *) | Transactions with shareholders comprise agreements with ADSH, Robert Bosch GmbH and Bosch Thermotechnik GmbH. Transactions with affiliates include transaction with subsidiaries of the shareholders.
Key management personnel compensation As of the comparison date December 31, 2020, key management personnel comprised the board of directors and authorized representatives of ADSE GM. Key management personnel as of the reporting date and as of December 31, 2021, comprise the board of directors and authorized representatives of ADSE Holdco. As of the reporting date the board of directors is represented by the following people:
Key management personnel |  | Role
Joseph Brancato |  | Director
Wolfgang Breme |  | Chief Financial Officer
Bazmi Husain |  | Director
K.R. Kent |  | Director
Hakan Konyar |  | Chief Production Officer
Kurt Lauk, PhD |  | Director (Chairman)
Salina Love |  | Director
John Neville |  | Chief Sales Officer
Thorsten Ochs |  | Chief Technology Officer
Sebastian Schypulla |  | Chief Purchase and Logistics Officer
Thomas Speidel |  | Chief Executive Officer and Director
Robert Vogt |  | Chief Accounting Officer
Key management personnel compensation comprised the following:
kEUR |  | 2022 |  |  | 2021 |  |  | 2020 |
Short-term employee benefits |  |  | 2,532 |  |  |  | 1,196 |  |  |  | 783 |
Share-based payments |  |  | 2,228 |  |  |  | 10 |  |  |  | - |
Total |  |  | 4,760 |  |  |  | 1,206 |  |  |  | 783 |
Key management personnel compensation for the financial year 2021 solely includes short-term employee benefits for four members of the key management as the rest of the key management was first appointed on December 23, 2021 and did not receive any short-term employee benefits. Short term employee benefits include salary, company cars, training, and other benefits. Share-based payments include expenses for restricted stock units and non-qualified stock options (see note 4.3).

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